The Kenosha telegraph. [volume] (Kenosha, Wis.) 1860-1888, 1887-03-25
GONE WITH The FUNDS.

a New York Business Man Borrows All
He Can and Leaves for Parts Unknown
BANKERS and Merchants Victimized-
His Liabilities Estimated at $1,000, 600.
New YORK, March 1S.-Sheriff Grant
has seized the place of business of Wal
ter E. Lawton at 81 Broadway, who did
business under the firm name of Law
ton Bros, as fertilizers, under attach
ments from Judge Donohue, of the
Supreme Court on creditors claims
amour ting to S245000 1t is charged that
Lawton has absconded to defraud his credit
tors; that he has disposed of his property
and taken large amount of money with
him. Lawton was director in the Delta
Azotin Company, and was intrusted with
800, 00o in notes to discount for the COM
pany on March 15 Lawton is said to have
absconded with the proceeds of the dis
counted notes.
Lawton's disappearance has caused a
great deal of apprehension, and it is gen.
orally believed that he is bankrupt. He
left the Office on Tuesday afternoon as
usual to go to his home on the Hudson, aud
has not been seen since. Rufus 7. Kirk
land his cashier, states that several at
tachments We're obtained, but outside of
that nothing is known. The amount of
his Liabilities are estimated at about 81 ,000,
600. Mr. Lawton is widower and the sole
representative Of the firm, his brother who
was associated with him having died some
time ago.
Kirkland states that on Tuesday Lawton
withdrew all his funds from the different
banks in which he deposited and took the
money with him. Lawton, before his de-
parture, destroyed all stubs, checks and
papers of every kind from which any
information could be secured as to
the disposition of the funds and property.
Layuton told Kirkland he intended to leave
the city by train; that he had drawn out all
the money on deposit; that he was ruined;
that he did not know what to do and that
he would probably committed suicide.
Lawton further said that he had exhausted
all his resources and was not able to pay
eout any money in his possession. He left
Kirkland to take train.
Attachments have been issued at.the in
stance of the Chemical Ammoniate and Oil
Company on a claim for $4,000 in promis-
sorry notes intrusted to Lawton and wrong
fully converted 10 his own use, and for
IS, 900 in cash. Robert A. Van Wyck has
levied an attachment on claim for $1,000
for professional services. Abram King
says that he has levied attachments on
claims for 100000.
A number of banks were reported to be
losers through Lawton. The cashier of the
American Exchange Bank said that Law
ton had small deposit there, which he had
not drawn. The bank holds $50, 900 Of bust
ness paper with his Endorsement. Past of
this is notes of the Chemical Company.
The United States Trust Company holds
$35, 900 of notes with Lawton's indorse-
ment.
LaWton negotiated his paper through the
note brokerage firm of Titus, Mead & Co.,
which has out no less than 100000 of
Lawton's Endorsements. Mr.. Mead says
that Lawton has also sold his paper through
Potter, Lowell & Co., of Boston, and also
through Dunn, of Philadelphia. Mr.. King
the attorney estimated that Lawton got
at least $3.50, 900 in cash from the banks
and on discounted paper on the day of his
departure
Nobody could give any intelligent state
ment of Lawton's financial condition as a
whole. No examination has yet been made
of the assets if any there be, and though
attachments have been served on every
thing visible, including the Jersey real
estate and the Spuyten Duyvel resi-
dence, it is commonly believed that
he has transferred his interest in
all such property. His liabilities,
so far as known, though not yet collected
in any statement, are estimated at about
81, 0O0 000-rather less than more. Lawton
was rated as good by Dun & Co., and that
firm says it never had the slightest intima-
ton that trouble was to be feared. Law.
toms book-keeper is said to have lost every
cent he had.
Lawton's associates look upon his disap-
pearance as part of a gigantic swindle and
believe that he sailed on one of Wednes-
days steamers. He has brother in Sus-
sex, Eng, and it is supposed that he has